EOS Price Surges over 30% Despite Losing to Tron [TRX] in Dapps

EOS Price Surges over 30% Despite Losing to Tron [TRX] in Dapps

Amidst the green crypto market, EOS is enjoying the highest surge in the last 2 days. The fourth largest cryptocurrency has been trading at $3.54 with 24-hours gains of 19.15 percent. In the BTC market, it is up by 13.80 percent, as per the data provided by Coinmarketcap. Currently, it is managing the daily trading volume of $2.34 billion which has been at $893 million on February 17.

EOS has already gone past $3 and now sitting above $3.50. In the past two days, it has surged 30 percent starting from $2.80 to the high of $3.76. Now, as Crypto trader, Crypto Squeeze notes, the next resistance is at $4.50, it would be interesting to see how far this rally of EOS will take its prices to.

Currently, the market cap of EOS is at a net loss from its reported $4 billion amount raised in ICO as at the time of writing market cap has been registering $3.2 billion.

EOS Loses to Tron in Dapps

While in the months of October and November EOS dominated the Dapp ecosystem and “came way stronger than Tron,” as gambling started on his platform and reached peak only to take a hit in December, according to the latest post by Dapp Review.

Tron shared the same graph starting from November but given the fact that Tron has “significantly fewer miner and mining machines,” Tron Dapps take longer to “die out.”

Community Annoyed with the Product Delay

Meanwhile, Block.One’s Brendan Blumer shared the latest development on the product on Telegram,

“Great things take time; parallel teams need to be built to deliver new products without sacrificing the progress of existing business units, and that means hiring new people which comes with time limitations that can’t always be shortcut with capital.”

“After much consideration, we wanted to release the wallet in a way that empowered all existing EOSIO wallets, and didn’t compete with them; we landed on a solution we’re excited about.”

But the community wasn’t satisfied as one EOS enthusiast said, “Wow. Only a month or so ago, they said that their wallet (which was supposed to be much more than just a wallet) was ready and just going through the final legal clearances. No,w this seems to imply that they aren’t making a downloadable wallet period.”

While another one commented in part, “Brendan, there is enough speculation in the community. If you make an announcement, the goal should be to remove ambiguity. Don’t obfuscate the present or re-interpret past announcements. Say it like it is… not this crap.”

Summary

Article Name

EOS Price Surges over 30% Despite Losing to Tron [TRX] in Dapps

Description

Amidst the green crypto market, EOS is enjoying the highest surge in the last 2 days. The fourth largest cryptocurrency has been trading at $3.54 with 24-hours gains of 19.15 percent. In the BTC market, it is up by 13.80 percent, as per the data provided by Coinmarketcap. Currently, it is managing the daily trading volume of $2.34 billion which has been at $893 million on February 17.

Author

Anjali tyagi

Publisher Name

Coingape

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Disclaimer
The presented content may include the personal opinion of
the author and is subject to market condition.
Do your market research before investing in cryptocurrencies.
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